The sale of shopping centres continued to fall in June. The Data App (TDA) estimate shopping centre sales across Australia declined by 60% in value terms in the three months to end of June, to a mere $212.3m. This compares to $531.5m in the same period a year earlier. As a consequence the value of shopping centres transacted, in trend terms, is at its lowest level for eight years.
The number of shopping centres transacted is also down to a trickle, averaging just five in the three months to June, which is 65% less than a year ago.